Research Dive in its newest published report estimates that the Global Edge AI Processor Market will generate $8,059.7 million and exhibit a CAGR of 16.5% from 2021 to 2028.
The usage of on-device AI processors is increasing across the world for image analysis. AI mobile processors power applications of computational imaging in wearable electronics, drones, robots, and self-driving cars. Besides, the demand for industrial and personal drones is increasing worldwide, which is driving the demand for edge AI processors. All these factors are predicted to boost the growth of the global edge AI processor market during the forecast period. Additionally, technological advancements and rapid growth in electronics industry worldwide are the factors predicted to create huge growth opportunities for the edge AI processor market by 2028. However, the lack of skilled professionals in the industry is expected to hamper the market growth during the estimated timeframe.
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Impact of COVID-19 Pandemic on the Edge AI Processor Market
The COVID-19 pandemic has substantially impacted the global edge AI processor market growth. The transition of healthcare industry from computers to the cloud to the edge has proven to be quite beneficial during the pandemic period. Many pharmaceutical companies and hospitals have begun to embrace edge AI. Moreover, research indicates that there will be several ways for the healthcare sector to incorporate edge AI and edge IoT into their daily operations in the coming future.
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Key Segment Findings of the Market:
The research report segments the global edge AI processor market into type, device type, end use, and region.
- Based on type, the central processing unit sub-segment is estimated to surpass $3,830.3 million by 2028 and hold the dominating market share during the forecast period. This sub-segment growth of the global edge AI processor market is mainly due to the increased adoption of IoT, which is expected to connect billions of new devices, compelling greater computing efficiencies and speed. In addition, integrations of FPGAs (field programmable gate arrays) and CPUs for high performance computing applications or supercomputing is another factor predicted to boost the sub-segment growth.
- Based on device type, the enterprise devices type sub-segment is estimated to generate a revenue of $2,122.8 million by 2028 and is predicted to witness fastest growth during the analysis period. This is majorly owing to the increased demand for business IoT as the capabilities of connected things have grown at the edge and intelligent technologies are being hugely used.
Edge AI Processor Market to Surpass $8,059.7 Million by 2028, Owing to Swift Growth in the Electronics Industry across the Globe – Analyst Review by Research Dive
- Based on end-use, the consumer electronics sub-segment is expected to generate a revenue of $2,081.0 million by 2028 and is predicted to hold the majority of market share over the analysis period. The growing popularity of smartphones, wearable devices, and others, and increased consumer spending and demand for consumer electronics are the significant factors expected to propel the sub-segment’s growth in the edge AI processor market.
- Based on region, the North America edge AI processor market is expected to surpass $3,122.3 million by 2028 and witness dominant growth in the global industry over the forecast period. The widespread adoption of robotics and industrial automation in the manufacturing sector and the presence of key market players in the region are the major factors predicted to foster the regional market growth by 2028.
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Top 10 Prominent Key Players of the Global Edge AI Processor Market Are –
- Intel Corporation
- HiSilicon (Shanghai) Technologies CO LIMITED
- Advanced Micro Devices, Inc.
- NVIDIA Corporation
- Alphabet Inc.
- Samsung Electronics Co., Ltd.
- Qualcomm Technologies, Inc.
- Arm Limited
- Apple Inc.
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These players are focusing on product launches, technological advancements, and strategic collaborations to gain a competitive in the global market.
For instance, in March 2021, ArchiTek Corporation, a start-up venture engaged in the R&D of beautiful and simple architecture and algorithms, announced the launch of ‘AiOnIc,’ the industry’s most compact and high-performing edge AI processor.
More about Edge AI Processor Market:
- The Demand for the Global Edge AI Processor is Increasing Owing to the Rising Applications in Healthcare
- 4 Virtuous Benefits of Edge AI Computing in the Modern World
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